What is Global Refrigerated Gas Carriers Market?
The Global Refrigerated Gas Carriers Market is a specialized sector within the shipping industry that focuses on the transportation of liquefied gases. These carriers are designed to transport gases at different temperatures and pressures, depending on the type of gas being transported. The gases are stored in insulated tanks to maintain the required temperature and pressure during transportation. The market for these carriers has been growing due to the increasing demand for natural gas and other gases worldwide. The global refrigerated gas carriers market is a complex and dynamic field that requires a deep understanding of various factors such as technological advancements, regulatory changes, and market trends. It is also influenced by the global economic scenario and geopolitical developments. The market is characterized by the presence of several players who compete on the basis of factors such as price, quality, reliability, and after-sales service. The market is also influenced by the demand and supply dynamics of the gases being transported.
Fully-Refrigerated Gas Carriers, Semi-Refrigerated Gas Carriers in the Global Refrigerated Gas Carriers Market:
Fully-Refrigerated Gas Carriers and Semi-Refrigerated Gas Carriers are two types of carriers used in the Global Refrigerated Gas Carriers Market. Fully-Refrigerated Gas Carriers are designed to transport large volumes of liquefied gases at atmospheric pressure. These carriers have large, insulated, spherical tanks that can hold up to 85,000 cubic meters of gas. The gas is cooled to a temperature below its boiling point to keep it in a liquid state during transportation. On the other hand, Semi-Refrigerated Gas Carriers are designed to transport smaller volumes of gas at higher pressures. These carriers have smaller, cylindrical tanks that can hold up to 20,000 cubic meters of gas. The gas is cooled to a temperature below its critical temperature and is stored at a pressure above its critical pressure to keep it in a liquid state during transportation. The choice between Fully-Refrigerated and Semi-Refrigerated Gas Carriers depends on factors such as the type of gas being transported, the distance of transportation, and the availability of storage facilities at the destination.
LPG, Chemical Gas Cargoes in the Global Refrigerated Gas Carriers Market:
The Global Refrigerated Gas Carriers Market plays a crucial role in the transportation of LPG and Chemical Gas Cargoes. LPG, or Liquefied Petroleum Gas, is a mixture of propane and butane, and is used in a variety of applications such as cooking, heating, and as a fuel for vehicles. The transportation of LPG requires specialized carriers that can maintain the gas in a liquid state at a temperature of -42 degrees Celsius and a pressure of 8 bar. Chemical Gas Cargoes, on the other hand, include gases such as ammonia and ethylene, which are used in the chemical industry for the production of fertilizers, plastics, and other products. The transportation of these gases requires carriers that can maintain the gas in a liquid state at a temperature of -33 degrees Celsius for ammonia and -104 degrees Celsius for ethylene, and a pressure of 10 bar for both gases. The Global Refrigerated Gas Carriers Market provides the necessary infrastructure for the safe and efficient transportation of these gases, thereby facilitating their availability for various end-use applications.
Global Refrigerated Gas Carriers Market Outlook:
The future outlook for the Global Refrigerated Gas Carriers Market appears promising, as per a recent survey. The market, which was valued at US$ 654 million in 2022, is projected to grow to a value of US$ 937.6 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 4.5% during the period from 2023 to 2029. This growth is expected to be driven by factors such as the increasing demand for natural gas and other gases, technological advancements in carrier design and operation, and the expansion of gas production and consumption in emerging markets. However, the market also faces challenges such as regulatory changes, geopolitical developments, and the volatility of gas prices. Despite these challenges, the Global Refrigerated Gas Carriers Market is expected to continue its growth trajectory, providing opportunities for both existing players and new entrants.
| Report Metric | Details |
| Report Name | Refrigerated Gas Carriers Market |
| Accounted market size in 2022 | US$ 654 million |
| Forecasted market size in 2029 | US$ 937.6 million |
| CAGR | 4.5% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
|
| Segment by Application |
|
| Production by Region |
|
| Consumption by Region |
|
| By Company | Dalian Shipbuilding Industry, Hyundai Heavy Industries, ICE, Kawasaki Shipbuilding, Mitsubishi Heavy Industries, Navigator, PaxOcean, Samsung Heavy Industries, Shanghai Waigaoqiao, STX Offshore and Shipbuilding, Thenamaris LNG, Wärtsilä |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
